19-2431. Agricultural land within improvement district; payment of special assessments; when; interest; lien.

166 words·~1 min read·/ne/chapter-19/19-2431

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(1)Whenever property which has received a deferral pursuant to sections 19-2428 to 19-2431 becomes disqualified for such deferral, the owner of record title of such property shall pay to the city or village an amount equal to the total amount of special assessments which would have been assessed against such property, to the extent of special benefits, had such deferral not been granted. Interest upon the special assessments shall be deferred and shall accrue from the time the property becomes disqualified for deferral. The interest rate shall be the same as was charged to other property owners within the special assessment district in question and amortized over a term to coincide with the original amortization period.

(2)In cases where the deferral provided by sections 19-2428 to 19-2431 is terminated as a result of a sale or transfer described in subdivision

(2)or

(3)of section 19-2430 , the lien for assessments and interest shall attach as of the day preceding such sale or transfer.